first american title "redweek recomended"

i have found a buyer for a timeshare week and was looking for and closing company with escrow that was reputable . I thought well lets see what redweek recomends. i thouth 300+ recording fees for closing and escrow were resonable i started their online form but there is a spot there that asks who will pay the title insurance fee. I am not going to pay another 300 for title insurance and already agreed to a set price with me covering closing costs. im selling it for 1800 cc included. I dont think that warrants title insurance. anyways the online form will not let you complete without choosing who will pay the insurance fee, i call their toll free number and get "we are open 8-430 monday thru friday. should i just use a different closing company, they sound reputable, but i wish on the page where redweek is promoting them they would state that the title insurance is mandatory to use them for closing/escrow I wouldnt have wasted my time on filling out their forms just to hit a wall and then possibly look like a ass when i tell my buyer want to use a different company. any advice would be welcomed

dustino wrote:

i have found a buyer for a timeshare week and was looking for and closing company with escrow that was reputable . I thought well lets see what redweek recomends. i thouth 300+ recording fees for closing and escrow were resonable i started their online form but there is a spot there that asks who will pay the title insurance fee. I am not going to pay another 300 for title insurance and already agreed to a set price with me covering closing costs. im selling it for 1800 cc included. I dont think that warrants title insurance. anyways the online form will not let you complete without choosing who will pay the insurance fee, i call their toll free number and get "we are open 8-430 monday thru friday. should i just use a different closing company, they sound reputable, but i wish on the page where redweek is promoting them they would state that the title insurance is mandatory to use them for closing/escrow I wouldnt have wasted my time on filling out their forms just to hit a wall and then possibly look like a ass when i tell my buyer want to use a different company. any advice would be welcomed

My own *personal* experience (and opinions) follow:

1. Neither you NOR your buyer are legally required to obtain title insurance. In fact, on a $1800 timeshare sale I regard doing so as a waste of money. Since you (seller) will have to present the current deed to the closing company anyhow, discrepancies (if any) will be promptly revealed in examining the current deed and preparing a new one. An estoppel letter sent to the resort prior to closing will also reveal any and all current ownership name questions and/or any unpaid bills.

2. I'd give First American Title until COB today (Friday) to call you back. If they don't, move promptly on to another closing company. $300 is a standard fee (recording fee usually INCLUDED in that figure) and the price you cite is no particular bargain. If they don't want your business, someone else equally (or more) competent does -- at the same (or less) cost.

3. You did not identify the state in which your timeshare is located. In my own personal experience, it's often more efficient to use a well established timeshare closing company located in the same state where the timeshare itself is located. Indeed, some closing companies can't / won't even handle ANY transactions where the timeshare is located in certain states (Hawaii, Vermont and South Carolina all come immediately to mind, but there are other states too).

4. I'm not going to "peddle", "market" or "bad mouth" any particular closing company here --- and I have no affiliation with ANY of them. However, having dealt with several of them over the years, I do harbor some strong opinions (good and bad) about some of them. If you can't resolve your issue with First American, and you want to come back and openly post a REQUEST for an alternative recommendation (specifically identifying the state in which the timeshare is located), then (and only then) I would be willing to make a recommendation --- but ONLY if directly asked. I do NOT want to appear to be steering business toward (or away from) any particular entity and I'm NOT doing so. That said, however, I am certainly entitled (and willing) to share my own direct, personal experiences.....

Why don't you check out the two closing companies below?

www.timeshareresaleclosings.com/

www.timesharetransfer.com

I've used timesharetransfer many times, as have others, and they are dependable and trustworthy. They have a good reputation in the industry.

timesharesaleclosings.com performs closings for $250. They have been recommended by members of other timeshare forums. $250 is the lowest price for a timeshare closing that I've ever come across.

BTW, you don't have to use a closing company in the state in which you buy your timeshare. The two companies above close timeshares all over the world.

Concerning Americal Title, I would email Redweek to let them know the kind of service that you have received from them and that you cannot seem to reach them by phone. They may choose to recommend other closings companies.

Re: >> ....you don't have to use a closing company in the state in which you buy your timeshare. The two companies above close timeshares all over the world.<< =======================================

While it's true that no one HAS to use a company in the state in which the timeshare is located, in my own experience it's sometimes just more efficient to do so (as I indicated previously). Perhaps due to their having more familarity with recording nuances and, often, established personal contacts at the County courthouse (or city / town hall, in some states).

To correct just one mistaken point in the quote cited above, I do know from my own very recent personal experience that Timeshare Transfer will NOT handle closings for timeshares which are located in any one of several different states within the U.S. I included Vermont as just one specific example, but TT actually has a list clearly posted on their web site of the states for which they handle closings. jayjay has posted the URL for the TT site, where those states are listed.

I hope it's not out of line for me to state here my **personal opinion** that for any timeshare which is located in Florida (where TT is also located), there is simply no one better than Timeshare Transfer. I'm not saying that others aren't good, but none are better.......

ken1193 wrote:

To correct just one mistaken point in the quote cited above, I do know from my own very recent personal experience that Timeshare Transfer will NOT handle closings for timeshares which are located in any one of several different states within the U.S. I included Vermont as just one specific example, but TT actually has a list clearly posted on their web site of the states for which they WILL handle closings. jayjay has posted the URL for the TT site, where the states are listed.

In checking their website they have now included the states that they can do closings. This must be something new as that note was not included on their website when they handled many of my closings. They handled closings for me in North Carolina, South Carolina and Louisiana (a difficult close as I bought from someone out of the U.S.) and those states aren't currently listed. There must have been some legal issues that arose from the states not presently listed. My closings were a few years ago

Timeshare Transfer

Complete Timeshare Closing Service $300 For properties located in the following states: Alabama, Arizona, Arkansas, California, Colorado, Florida, Georgia, Hawaii, Idaho, Iowa, Massachusetts, Minnesota, Mississippi, Missouri, Montana, Nevada, Pennsylvania, Tennessee, Texas, Utah, Virginia, West Virginia and Wisconsin

jayjay wrote:

ken1193 wrote:

To correct just one mistaken point in the quote cited above, I do know from my own very recent personal experience that Timeshare Transfer will NOT handle closings for timeshares which are located in any one of several different states within the U.S. I included Vermont as just one specific example, but TT actually has a list clearly posted on their web site of the states for which they WILL handle closings. jayjay has posted the URL for the TT site, where the states are listed.

In checking their website they have now included the states that they can do closings. This must be something new as that note was not included on their website when they handled many of my closings. They handled closings for me in North Carolina, South Carolina and Louisiana (a difficult close as I bought from someone out of the U.S.) and those states aren't currently listed. There must have been some legal issues that arose from the states not presently listed. My closings were a few years ago

Timeshare Transfer

Complete Timeshare Closing Service $300 For properties located in the following states: Alabama, Arizona, Arkansas, California, Colorado, Florida, Georgia, Hawaii, Idaho, Iowa, Massachusetts, Minnesota, Mississippi, Missouri, Montana, Nevada, Pennsylvania, Tennessee, Texas, Utah, Virginia, West Virginia and Wisconsin

As you can now clearly see for yourself, there are actually MANY states (more than half the states in the U.S., in fact) where TT WON'T handle closings. Among all six New Englad states, for example, Massachusetts is the ONLY state for which TT WILL handle a closing.

There are various reasons for this development in timeshare closings in different states in recent years. I know the story / reasons in a number of those states, but I doubt anyone is really interested in those details. Sometimes it involves a "property transfer tax" imposed by the state; a situation in which TT doesn't want to get itself involved. In other instances (SC, for example) the law actually requires involvement of a SC bar member attorney. But no matter. Just knowing where TT will and will not handle closings is certainly sufficient info for anyone interested in this subject.

Just one additional point of information about TT "complete" closing service for $300. That figure does NOT include TT obtaining an estoppel letter from the resort (that costs an additional $50). While not legally required to achieve closing, an estoppel letter is always a good way for the buyer to get written, objective confirmation that the seller has no unpaid bills at the resort). Also, if the resort charges a "transfer fee" (as many do, typically $50-100, or more), that fee is also NOT included in the "complete" TT closing service fee of $300. In short, "complete" is somewhat "relative" here.

I decided to go ahead and use timesharetransfer.com The timeshare is in Arizona, this is one of the states that they deal with. Hopefully will all go smooth. I am most grateful for the insights of my fellow posters.

Hello, I am trying to find a closing company who will handle my Newport, RI timeshare sale. I contacted TT but realized they do not handle that state. Anyone have any experience selling in RI??

mixologist wrote:

Hello, I am trying to find a closing company who will handle my Newport, RI timeshare sale. I contacted TT but realized they do not handle that state. Anyone have any experience selling in RI??

Have you checked into First American Title Insurance? More information can be found at http://www.redweek.com/help/sale_process/escrow/.

Thanks, Marty

marty8084 wrote:

mixologist wrote:

Hello, I am trying to find a closing company who will handle my Newport, RI timeshare sale. I contacted TT but realized they do not handle that state. Anyone have any experience selling in RI??

Have you checked into First American Title Insurance? More information can be found at http://www.redweek.com/help/sale_process/escrow/.

Thanks, Marty

Can you tell me is the title insurance fee listed on your site for the mandatory to use their service. If it is, then can you respond to my suggestion to put the word "mandatory" or something meaning the same thing with the info on title insurance for the page on your site just referenced. I would have defenitely used them for my recent transfer if the buyer wanted to get title insurance. but since they did not, I just used a different company.

dustino wrote:

marty8084 wrote:

mixologist wrote:

Hello, I am trying to find a closing company who will handle my Newport, RI timeshare sale. I contacted TT but realized they do not handle that state. Anyone have any experience selling in RI??

Have you checked into First American Title Insurance? More information can be found at http://www.redweek.com/help/sale_process/escrow/.

Thanks, Marty

Can you tell me is the title insurance fee listed on your site for the mandatory to use their service. If it is, then can you respond to my suggestion to put the word "mandatory" or something meaning the same thing with the info on title insurance for the page on your site just referenced. I would have defenitely used them for my recent transfer if the buyer wanted to get title insurance. but since they did not, I just used a different company.

It's not mandatory to use 1st American Title Insurance Co. to sell your timeshare on RedWeek.com. You are free to use any closing company you would like. We have this on our website for those that don't know where to go for this type of service. If another company worked out for you then that's great.

Thanks, Marty

The site below (JRA Services) is also gaining a positive reputation for timeshare closings and they are reasonably priced:

http://www.timeshareresaleclosings.com/

marty8084 wrote:

dustino wrote:

marty8084 wrote:

mixologist wrote:

Hello, I am trying to find a closing company who will handle my Newport, RI timeshare sale. I contacted TT but realized they do not handle that state. Anyone have any experience selling in RI??

Have you checked into First American Title Insurance? More information can be found at http://www.redweek.com/help/sale_process/escrow/.

Thanks, Marty

Can you tell me is the title insurance fee listed on your site for the mandatory to use their service. If it is, then can you respond to my suggestion to put the word "mandatory" or something meaning the same thing with the info on title insurance for the page on your site just referenced. I would have defenitely used them for my recent transfer if the buyer wanted to get title insurance. but since they did not, I just used a different company.

It's not mandatory to use 1st American Title Insurance Co. to sell your timeshare on RedWeek.com. You are free to use any closing company you would like. We have this on our website for those that don't know where to go for this type of service. If another company worked out for you then that's great.

Thanks, Marty

Marty, I am aware that it is not mandatory to use the first american title to tranfer a timeshare listed with redweek. In fact the timeshare i recently transfered, I found the buyer somewhere other than redweek. what I was trying to point out was that you should put some thing on your page containing the info on first american title listing all the differnent fees for title insurance maybe put in parenthesis whether the title insurance is optional or mandatory. Many of the other companies doing timeshare transfers, they offer title insurance as an optional. I assumed it to be optional with first american, but It appeared to be mandatory using their website. I just remember being very irritated after spending probably 20 minutes filling out forms on their website that i wouldn't have done if you could have had the statement

"title insurance mandatory when available"

on the info page on YOUR website

dustino wrote:

marty8084 wrote:

dustino wrote:

marty8084 wrote:

mixologist wrote:

Hello, I am trying to find a closing company who will handle my Newport, RI timeshare sale. I contacted TT but realized they do not handle that state. Anyone have any experience selling in RI??

Have you checked into First American Title Insurance? More information can be found at http://www.redweek.com/help/sale_process/escrow/.

Thanks, Marty

Can you tell me is the title insurance fee listed on your site for the mandatory to use their service. If it is, then can you respond to my suggestion to put the word "mandatory" or something meaning the same thing with the info on title insurance for the page on your site just referenced. I would have defenitely used them for my recent transfer if the buyer wanted to get title insurance. but since they did not, I just used a different company.

It's not mandatory to use 1st American Title Insurance Co. to sell your timeshare on RedWeek.com. You are free to use any closing company you would like. We have this on our website for those that don't know where to go for this type of service. If another company worked out for you then that's great.

Thanks, Marty

Marty, I am aware that it is not mandatory to use the first american title to tranfer a timeshare listed with redweek. In fact the timeshare i recently transfered, I found the buyer somewhere other than redweek. what I was trying to point out was that you should put some thing on your page containing the info on first american title listing all the differnent fees for title insurance maybe put in parenthesis whether the title insurance is optional or mandatory. Many of the other companies doing timeshare transfers, they offer title insurance as an optional. I assumed it to be optional with first american, but It appeared to be mandatory using their website. I just remember being very irritated after spending probably 20 minutes filling out forms on their website that i wouldn't have done if you could have had the statement

"title insurance mandatory when available"

on the info page on YOUR website

I understand now. I'll see if we can get that added to our escrow page.

Thank you, Marty